The ICCL has been informed by the Central Bank of Ireland that Charleville Credit Union Limited [“CCUL”] was put into liquidation by the High Court on 13 November 2017. This action by the High Court constituted a ‘Court Ruling’ for the purposes of the Act.
On being informed of a Court Ruling the Act obliges the ICCL to write to those who were clients of the firm, and may have suffered a compensatable loss, and to publish notice of the Court Ruling. Consequently, using details provided by the Official Liquidators, we will write to relevant members of CCUL, to inform them of potential entitlements under the Act. If you are a member of CCUL and you believe that CCUL has failed to return money or investment instruments, which you had entrusted to it in connection with the provision of investment business services, you may be entitled to make a claim under the Act. If you require an ICCL claim form, please email the ICCL to request a CCUL claim form (all requests can be sent to firstname.lastname@example.org).
Members of CCUL should note that the Central Bank of Ireland has confirmed that all members savings held with CCUL are covered by the Deposit Guarantee Scheme. Members may also wish to note that the Central Bank of Ireland and the Official Liquidators have not identified circumstances to date which would lead them to conclude that the liquidation of CCUL will result in compensatable losses for members.
Applying for Compensation
An application for compensation under the Act must be submitted to us on the claim form provided for this purpose. Claim forms are only available from the ICCL. Members should complete a claim form only if they believe that CCUL has failed to return money or investment instruments which they entrusted to it.
Please note that the deadline, under the Act, for the submission of claims is Monday 16 April 2018.